News on Strata Reforms in NSW

Saturday, 31st October 2015

The Minister of NSW Finance, Services & Innovation, Victor Dominello MP said the laws will come into effect in July 2016.

The Strata Scheme Management Bill and Strata Scheme Development Bill, which has passed the legislative council, contain around 90 changes to the existing laws, on issues including collective sale, renovations, proxy farming, defects and parking.

"Today more than two million people live and work in strata. The new laws will cater for the needs of 21st century strata living," Mr Dominello said.

"The new laws will modernise collective decision making processes, increase protections against unresolved building defects and improve outdated regulation impacting on renovations."

Public consultation on draft regulations accompany the new Acts, including model by-laws, will commence in early 2016.

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